The government expanded the program of concessional lending for the purchase of priority imported products

The government has expanded the program of concessional lending for the purchase of priority imported products – now those who buy it on lease will also be able to count on loans at a rate of about 5.5% for the purchase of equipment. It also provides for the possibility of refinancing concessional loans – in case the business finds more favorable conditions – as well as maintaining the preferential rate in a situation where the bank could not receive a subsidy – by assigning them the rights of claim to the borrower to another bank.

The White House updated the rules for preferential lending for the purchase of priority imports (the resolution was published yesterday), expanding its program. Recall that we are talking about loans at a preferential rate (30% of the key rate of the Central Bank plus 3 percentage points, that is, now 5.55%) for the purchase of materials, components, components, raw materials and equipment (funds can also be spent on paying VAT and customs duties, design and commissioning works). The list of priority products covers a wide range of items for industrial and agricultural production, ranging from seeds and nails to microscopes, centrifuges and engines. One borrower, as a general rule, can receive up to 10 billion rubles. (up to 30 billion rubles – in agreement with the Ministry of Economy, and more – already by order of the government). The preferential rate for the purchase of raw materials and components is valid for a year, and if it takes more time to import them or we are talking about equipment and means of production – up to three years. 12.4 billion rubles are allocated for subsidizing in the budget for this year, 19.5 billion for 2024.

According to the project, the “funnel” of foreign trade contracts is expanding, for the execution of which it is possible to take a soft loan – by eliminating the requirement for a minimum amount of obligations (previously – from 3 million rubles). The program also includes payment for the leasing of foreign equipment, provided that the ownership rights to it are transferred to a Russian organization. We are talking about contracts in the amount of 10 million rubles, which, in addition to financial lease, may provide for design, transportation and other services related to leasing. The term of subsidizing the rate is three years.

It also introduces the possibility of refinancing concessional loans. As the Ministry of Industry and Trade explained to Kommersant, the option “was added to provide borrowers with the opportunity to move to another bank with more optimal conditions, including those related to a more favorable loan rate, the need to diversify the loan portfolio and optimize collateral and security conditions.” As a result, they add in the department, this reduces the financial burden on recipients of support. It is also allowed, according to the decree, for the bank to assign the right of claim to the borrower for a preferential loan – as noted in the ministry, this will allow the bank to maintain benefits in case of force majeure circumstances that make it impossible to receive a subsidy. Let us explain that now in such situations the bank raises the rate to the standard level.

Oleg Malakhov, a member of the General Council of Delovaya Rossiya, notes that “business can only welcome the expansion of the program – a sufficient number of enterprises will be able to use it to develop production capacities.” Opora Rossii vice-president Maxim Tretyakov believes that any financial support at a rate below the key one, especially in the context of its growth, when market loans are becoming more expensive, “is a big plus for any enterprise, since it greatly expands its capabilities.” Leasing loans, according to Oleg Malakhov, “will allow not only to optimize development costs, but also serve as an incentive to attract own investments.” However, Maxim Tretyakov adds, leasing may not be relevant for all industries and industries – it is easier to buy unique equipment from the manufacturer.

Evgenia Kryuchkova